Affinity Group to start roadshow Thursday for $75 million PIK note

By Paul A. Harris

St. Louis, March 9 - Affinity Group Holding Co. will kick off a roadshow on Thursday for a $75 million offering of senior notes due Feb. 15, 2012, according to market sources.

The notes will come with a pay-in-kind coupon for the first three years.

CIBC World Markets has the books for the Rule 144A offering.

Proceeds will be used to fund a preferred share investment in FreedomRoads LLC.

According to a market source, FreedomRoads, a recreational vehicle retail network, was founded in 2003 by Affinity Group's non-executive chairman, Stephen Adams, along with current chairman and CEO Marcus Lemonis.

Affinity Group Holding is a Ventura, Calif., membership-based direct marketing organization that sells club memberships and publications to select recreational groups.

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